TradexWhisperer Reach Record $65 Billion in 2026, Driven by HBM and New Fabs
New private memory research indicates DRAM capital expenditure is expected to hit a record high of nearly $65 billion in 2026, fueled by HBM demand, node migration, and increased construction spending for new fabs and cleanroom expansions. Most of this capex surge is unlikely to contribute materially to production until late 2027 or 2028, suggesting near-term supply growth will remain dependent on existing node migration and line optimization.
So What
Record DRAM capex is now heavily weighted towards long-duration construction, delaying new capacity contributions until late 2027 or 2028, tightening near-term memory supply.